Bulgarian Real Estate Fund REIT to sell DIY shopping centre in Sofia for EUR 18 mln

Bulgarian Real Estate Fund REIT has signed a preliminary agreement to sell its Doverie-Bricolage shopping centre in the capital Sofia to local Doverie-Brico, part of diversified group Doverie United Holding, for EUR 18 million euro.

The deal is expected to be finalised by November 2025, with BREF continuing to receive lease payments until then. An advance payment of 10% of the sale price has been agreed.

In 2006, BREF concluded sale-and-leaseback deals with French DIY chain Mr Bricolage for two stores in Varna and Sofia. The two properties were acquired for EUR 10 million.

Sofia-based Doverie-Brico operates DIY stores in Bulgaria under the Mr Bricolage brand, offering furniture and building materials.